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Author Topic: $6000 on Prospero X-3 or buy coins of same value?  (Read 762 times)
kthejung
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February 19, 2014, 08:30:01 PM
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The decision is getting tough.  This Friday, I will finally have enough $ to pre-order a 2 t/h machine but the mining difficulty has risen more than expected.  I may be able to get a little more bitcoins through Prospero X-3 than straight buying but I'm not sure that little bit is worth the risk of another delayed pre-order.  I'm leaning more towards just buying bitcoins now.  What do you guys think?



Update:  nevermind, answered my own question.  I think mining is pretty much a lost cause for this year.  Will probably buy coins.  Cointerra, Black Arrow, and also professional mining businesses coming in will make it even worse next few months.  Maybe I'll get a high-end machine next year.
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aceking
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February 20, 2014, 05:19:55 PM
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For sure buy coins of same value especially now that bitcoin price has fallen.
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February 20, 2014, 05:33:46 PM
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Buy coins... with all the Gox news, the price of BTC is low today. It will probably fall to sub $300 briefly as soon as Gox claims bankruptcy, then likely shoot back up to the mid 600's.  Just speculation here, but that's my guess.



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frankenmint
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February 20, 2014, 07:18:28 PM
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please on everything DO NOT BUY a prospero X-3  Just buy the coins which is about 11 and some change today.

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February 20, 2014, 09:54:09 PM
 #5

Yeah just buy bitcoins for sure !! Im actually in the same boat. I got allmost 10 k saved after I sold all my 1st generation cubes and blades on eBay plus been saving for buying more mining power. I was thinking about buying all antminer S1 units then mine with them for 45 days and sale them all on eBay. The more I tryed to do the math on it the more it makes me realize I wouldn't do much better then just buying the bitcoins to start with. Expecially with the bitcoin price down right now...  So I guess the real question is when to buy the bitcoin ?? How low will it go ?? I dont think it will go down under 500$ even with Mt Gox bullshit ... But who knows if Mt Gox does go all the way under bitcoin might just crash to 300$ on all exchanges.......

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kthejung
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February 21, 2014, 12:12:39 AM
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Yeah just buy bitcoins for sure !! Im actually in the same boat. I got allmost 10 k saved after I sold all my 1st generation cubes and blades on eBay plus been saving for buying more mining power. I was thinking about buying all antminer S1 units then mine with them for 45 days and sale them all on eBay. The more I tryed to do the math on it the more it makes me realize I wouldn't do much better then just buying the bitcoins to start with. Expecially with the bitcoin price down right now...  So I guess the real question is when to buy the bitcoin ?? How low will it go ?? I dont think it will go down under 500$ even with Mt Gox bullshit ... But who knows if Mt Gox does go all the way under bitcoin might just crash to 300$ on all exchanges.......


The price of a bitcoin on the Genesis block website http://thegenesisblock.com/mining/a/254b3cc362 has been at $566 for about 2 weeks now.  At first, I thought that the website had it pegged too low but then Coinbase and other exchanges seem to be moving toward that price.  I've already bought about $4000 worth of btc on Coinbase recently when the price was about $650.  I plan on spending about another G this friday; the price on Coinbase is about $580 right now.  I personally would not wait for btc prices to drop below $400 because it may not happen.  A news article tomorrow or the day after (for example) could send the prices skyrocketing again.  I think bitcoins will reach $10,000 towards the end of this year.

My thoughts on mining now...   At this point in the game, the idea of a company selling a mining machine is like selling a machine that literally makes money; it's an oxymoron.  Some companies who just "loves" to make machine may do it just to do it but it would be rare for someone to give away a machine that makes profit.  Bitcoins are no longer a speculation, it is money.  I will still keep my eye out for any more new products from Bitmain since they do not sell pre-orders. 
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